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, then alys cohen, staff attorney for the national consumer law center. and then if i move all the way to my right-hand side, susan walker, who's professor -- susan wanter in from the university of pennsylvania, david moskowitz and karen thomas, senior executive vice president for government relations at the independent community bankers association of america. thank you all for being here, and perhaps we might start with you, mr. calhoun. >> thank you. today the cfpb announces one of its most important rules, the qualified mortgage ability to repay rule, along with the upcoming mortgage servicing rules that will come out next week that address failures in the mortgage market that devastated millions of families and our overall economy. the twin drivers of this were widespread, unaffordable loans and a broken mortgage servicing system that severely aggravated the ensuing wave of foreclosures. the goal of the dodd-frank legislation and the rule today are to redirect incentives so that lenders are encouraged to make loans that are long-term sustainable, not just generators of short-term fees.
cohen, i think there are others who sort of say we've seen the end of growth. no more innovation, no more growth, we've now just got to settle down and deal with the fact that we're not going to have anymore growth. and i think the evidence is really strongly against that. there is in your pack and i'm doing a little bit of a plug here, james is a senior, external senior fellow here at brookings as well as director at the mckinsey global institute, and he and i are working on a project with the support of others looking at this question what are some of the game changers, what are the ways in which we can get innovation and, actually, as we get out of this mess on the deficit and the recession really start to get stronger growth in the economy. and the thing that's really needed, the thing that we didn't have in the first, even the first seven years of this century was sort of innovation-driven, output-driven growth. we had a lot of restructuring productivity but we haven't really had for some years now real output-driven innovation and growth, and that's part of what we're looki
Search Results 0 to 1 of about 2